Why Blocking U.S. Diesel Exports Could Make Fuel More Expensive

Talk of a possible ban on U.S. exports of diesel fuel to curb soaring prices at the pump could end up pushing all fuel prices higher, cutting refinery runs as storage fills up, analysts have warned. The move could result in a glut of the fuel in the United States while the rest of the world struggles to secure supply. Retail diesel prices in the U.S. hit an all-time high of over $6.50 per gallon last week amid the global crunch that led to higher exports of the fuel, notably to Europe. In order to rein in prices for American drivers, legislators…